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JP Morgan and Dutch pension fund PGGM transacted derivatives margin trade
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◆ Chinese bank treasury shift from USTs to dollar callables considered ◆ Some European SSAs face cross-currency limitations ◆ Previous market staple 'almost non-existent'
Goldman's Hong takes over from Jeroen Krens
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Bank intermediaries eye resurgence in profitable trades
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  • Europe’s faltering on margin rules for uncleared swaps this year has, for some market participants, proved that the trans-Atlantic regulatory rollout has reached breaking point – a reckoning that, perversely, could buy the market some relief in the form of a slowdown in the regulatory pace.
  • China has been buying negative-yielding JPY bills to profit from using USD/JPY basis swaps. Short NDIRS have been bid. The curve is flattening and sources see scope for it to flatten further before 1s/10s meets resistance around the 35bp level.
  • Singapore Exchange (SGX) and the Baltic Exchange have agreed terms for a recommended share offer as the Asian company looks to proceed with a proposed acquisition.
  • CME Group has added two futures contract with alumina as the underlying to its base metals range.
  • Intercontinental Exchange has battled to deflect a potentially deal-busting challenge of its takeover of Trayport, the trading software company, by the UK's Competition and Markets Authority.
  • CME Group has reported the first trading of its US dollar Malaysian crude palm oil futures contracts it launched last month.